MOSCOW, Sep 12 (PRIME) -- Russia’s Finance Ministry is preparing a 3-year budget plan with gradual reduction of deficit and higher efficiency of expenditures, Minister Anton Siluanov said Monday.
Under a draft budget plan, the budget deficit is projected at 3.2% of gross domestic product (GDP) in 2017, 2.2% in 2018, and 1.2% in 2019. The forecast is based on the oil price of U.S. $40 per barrel.
“We are preparing a budget for three years, with a gradual reduction of imbalance,” Siluanov said.
The government is slated to consider the draft budget for 2017–2019 at a meeting on October 13.
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